Analysis of the Reasons for and Sustainability of the Strong Performance of Pulian Software (300996)

1. Event Background and Market Performance
   : Pulian Software (300996) entered the strong stock pool on December 3, 2025. As of 09:35 that day, it was quoted at 19.69 yuan/share, with an increase of 9.82% and a total market value of approximately 5.568 billion yuan [1].
2. Driving Factors for Strength
   :
   • AI Agent Concept Speculation
     : The company belongs to the AI Agent concept sector. On December 1, ByteDance released the Doubao Mobile Assistant (a system-level AI Agent), which drove the overall strength of the sector [1][3].
   • Xinchuang Policy Support
     : Deeply engaged in management information solutions for high-barrier industries such as petroleum and petrochemicals, construction, and finance, benefiting from the national “independent controllability” strategy and the development of the Xinchuang industry [2].
   • Technical and Capital Promotion
     : It has increased by 52.98% so far this year and 11.12% in the past 20 days. The strong technical aspect attracted short-term funds; the turnover on that day was 324 million yuan, the turnover rate was 7.14%, and the main capital net inflow was 18.1116 million yuan [1].
3. Fundamentals and Speculation Risks
   : The company’s revenue in the first three quarters of 2025 only increased by 2.17% to 300 million yuan, and the net profit attributable to the parent company decreased by 90.07% to 1.4824 million yuan [1]. The correlation between the current rise and the company’s actual AI business progress is not yet clear, and it is likely mainly driven by concept speculation.

1. Concept and Fundamentals Deviation
   : The popularity of the AI Agent concept is the core catalyst, but the company’s financial data shows that its profitability has not been substantially improved, and the stock price rise lacks fundamental support [1].
2. Sector Linkage Effect
   : The sector market triggered by ByteDance’s AI Assistant release has short-term characteristics, and Pulian Software’s strong performance is highly related to the overall sentiment of the sector [3].
3. Technical Pressure
   : The current stock price is close to the daily limit price (about 21.47 yuan), facing short-term resistance; the support level is 17.85 yuan (closing price on December 2) [4].

• Risk Points
  : The fading of concept popularity may lead to a stock price correction [1]; weak fundamentals limit long-term upside space [1]; technical aspects are close to short-term resistance levels [4].
• Opportunity Points
  : If the company can convert the AI concept into actual business progress, it may benefit from the continuous deepening of the Xinchuang industry [2].

Pulian Software’s recent strong performance is mainly driven by AI Agent concept speculation, support from Xinchuang policies, and short-term technical factors. However, attention should be paid to the risks of concept speculation and weak fundamentals. Investors should focus on the sustainability of the concept sector, the implementation of the company’s AI business, and changes in fundamentals, and make decisions based on their own risk preferences.

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